Market Edge

From gann perspective, whenever a confluence of support is defended, the pullback tends to be excessive. A rally of 2 percent in this truncated week’s trade clearly outlines the structural strength of the index.

The market Cap-to-GDP ratio also known as Warren Buffett indicators is trading at its long term averages which is a positive sign while the S&P BSE Sensex return on equity (ROE) of 14.3 percent is well below long term averages.